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Oklahoma Business Start-up Guide
The following information describes key, initial steps and decisions regarding starting a small business. Note that two or more of the decisions and actions may occur simultaneously.
Name and Legal Structure
In starting a new business, two of the first decisions are choosing a business name and deciding what legal structure to operate under.
The legal structure of a business can be defined as the structure which officially determines how taxes will be filed and reported, plus how lawsuits may be incurred. When a business starts and is owned and operated by a single person without any other formalities, its legal structure is a sole proprietorship. If a business starts and is jointly owned and operated by two or more persons without any other formalities, its legal structure is a general partnership.
Sole proprietorships and general partnerships are the most common types of legal structures used by small business owners. Under these two structures, the business owners are more vulnerable to personal liability from lawsuits and higher taxes due to the inability to take advantage of certain favorable situations.
In an attempt to reduce the potential for personal liability and higher taxes, the business owner(s) may decide to create and operate under one of the formal types of legal structures. The formal structures are more complex and require more detailed filing actions. An owner may decide to file and use a formal structure for the business before starting, or the owner(s) may operate as a sole proprietor or a general partnership, while in the process of changing to one of the formal structures. Decisions of the two latter types to change, usually, occur after more advice and needed information have been obtained, which may include conferring with other owners and specific business professionals (such as a tax attorney, certified public accountant or other consultants). This subject is discussed later in this document.
Registering a Business Name
In Oklahoma, once the name of a business has been decided, the owner(s) can seek to register it for exclusive use in the state. To do this, the person(s) involved should contact the office of Oklahoma’s Secretary of State (SOS) www.sos.ok.gov and complete a Trade Name Report. If the proposed business or trade name is available, it can be registered by paying the current $25 fee to cover the cost of the report.
New or aspiring owners are encouraged to register their business name. As an alternative to registering the company name, the proposed name can simply be held for a 60 day period by paying a $10 fee, while other plans for the business are being completed, including creating and filing one of the formal legal structures. Also, the same core name that was registered as a sole proprietorship or general partnership can be used, if the owner changes the legal structure of the business to one of the formal types at a later date.

Oklahoma Business Start-up Guide
The following information describes key, initial steps and decisions regarding starting a small business. Note that two or more of the decisions and actions may occur simultaneously.
Name and Legal Structure
In starting a new business, two of the first decisions are choosing a business name and deciding what legal structure to operate under.
The legal structure of a business can be defined as the structure which officially determines how taxes will be filed and reported, plus how lawsuits may be incurred. When a business starts and is owned and operated by a single person without any other formalities, its legal structure is a sole proprietorship. If a business starts and is jointly owned and operated by two or more persons without any other formalities, its legal structure is a general partnership.
Sole proprietorships and general partnerships are the most common types of legal structures used by small business owners. Under these two structures, the business owners are more vulnerable to personal liability from lawsuits and higher taxes due to the inability to take advantage of certain favorable situations.
In an attempt to reduce the potential for personal liability and higher taxes, the business owner(s) may decide to create and operate under one of the formal types of legal structures. The formal structures are more complex and require more detailed filing actions. An owner may decide to file and use a formal structure for the business before starting, or the owner(s) may operate as a sole proprietor or a general partnership, while in the process of changing to one of the formal structures. Decisions of the two latter types to change, usually, occur after more advice and needed information have been obtained, which may include conferring with other owners and specific business professionals (such as a tax attorney, certified public accountant or other consultants). This subject is discussed later in this document.
Registering a Business Name
In Oklahoma, once the name of a business has been decided, the owner(s) can seek to register it for exclusive use in the state. To do this, the person(s) involved should contact the office of Oklahoma’s Secretary of State (SOS) www.sos.ok.gov and complete a Trade Name Report. If the proposed business or trade name is available, it can be registered by paying the current $25 fee to cover the cost of the report.
New or aspiring owners are encouraged to register their business name. As an alternative to registering the company name, the proposed name can simply be held for a 60 day period by paying a $10 fee, while other plans for the business are being completed, including creating and filing one of the formal legal structures. Also, the same core name that was registered as a sole proprietorship or general partnership can be used, if the owner changes the legal structure of the business to one of the formal types at a later date.